COLD Investor Presentation Spring 2026

Strengthening our Foundation to Unlock Long-Term Growth

Corporate Deck | June 1, 2026

Americold - A Compelling Growth Opportunity

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1. Global Leader in Cold Storage

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Significant Scale & Expertise from 120+ Years of Experience

Significant Scale Global Footprint

Cubic Feet / Warehouse Count

~1.4B/53M

Cubic Feet/Square Feet of Total Capacity

~5.2M

Pallet Positions

224

Warehouses

North America

1,154M / 179

Europe

105M / 23

Connectivity

Conventional & Automated Presence at Every Major Node

12,000

Associates

~2,900

Customers

South America

10M / 2

Asia Pacific

86M / 20

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Note: Figures as of March 31, 2026. Figures may not sum due to rounding

Cold Storage Industry Market Share

1,154M cubic feet

179 facilities

1,355M cubic feet1

224 facilities

Note: Americold portfolio figures as of March 31, 2026. Figures may not sum due to rounding

1. Figures do not include Americold's Middle Eastern investment in the RSA JV

2. The remaining 41% and 78% of the North American and global markets consist of ~3.0bn cubic feet and ~19.7bn cubic feet, respectively

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A Global Leader in Highly Fragmented Market

Americold provides mission critical infrastructure from production to consumption

Produce

Distribute

Consume

There are four primary 3PL cold chain nodes and Americold has solutions in each one: Production Support (Production Advantaged)

Distribution Support (Forward Distribution)

Import | Export Support (Port)

Store Distribution (Retail) 7

Americold is Essential to the Cold Chain

Deep Customer Relationships Drive Growth Opportunities

Best-in-class customer experience

Strategically-located network of facilities Comprehensive value-added services

High standards of quality, reliability, and food safety

Commitment to innovation through automation and strategic partnerships

~50% of Warehouse revenues(1)

~39 years average tenure

100% use multiple facilities, average of 16 sites 100% utilize committed contracts/leases

13 customers are investment grade(2)

1. Based on LTM Warehouse revenues as of March 31, 2026

2. Represents long-term issuer rating as of April 2026 8

Experienced Management Team

Committed to Increasing Shareholder Value

Significant experience in real estate, third-party logistics, and grocery retail

Robert Chambers Chief Executive Officer

COLD: Joined 2013/Appointed 2025

~21 years experience

Richard Winnall President, International

COLD: Joined 2019/Appointed 2024

~24 years experience

Chris Papa

Chief Financial Officer

COLD: Joined & Appointed 2026

~23 years experience

Scott Henderson

Chief Investment Officer

COLD: Joined 2018/Appointed 2023

~24 years experience

Bryan Verbarendse President, Americas

COLD: Joined 2023/Appointed 2025

~33 years experience

Nathan Harwell

Chief Legal Officer and People Officer

COLD: Joined & Appointed 2023 & 2026

~27 years experience

History of Significant Growth

AFFO (in millions) 31%

AFFO

Growth

$1.11

$1.27 $1.47 $1.43

$1.38

• Refocus on 4 key strategic priorities: labor, customer service, pricing, developments

• Re-commercialization initiative across the business

• Announced strategic partnership with DP World

• Announced strategic partnership with CPKC

• Launched Project Orion

• Completed and launched 5 automation projects

• Hiring and retention initiatives deliver $100M in incremental services NOI

• Project Orion improved labor productivity and efficiencies

• Grew same store service margins by 911 bps to 12.9%

• Completed Houston acquisition to support retail growth

• Increased quarterly dividend by 5%

• Achieved target of 60% of rent & storage revenue from fixed commitment contracts

• Rob Chambers appointed CEO

• Introduced 5 key priorities to support future growth

• Chris Papa appointed CFO

• Announced formation of the Americold EQT Joint Venture

Reconciliations of non-GAAP measures to the most comparable GAAP metrics are included within our quarterly financial supplement for the first quarter ended March 31, 2026 as filed with the SEC on

May 7, 2026

2. Unique Value Proposition

Scalable Infrastructure

Conventional & Automated capabilities at all nodes of the supply chain

Unique Value Proposition Driven by Unparalleled Expertise and Scalable Infrastructure

Strategic Partnerships

providing unique growth opportunities exclusive to Americold

Advanced Operating System

ensures best practices across entire warehouse network

Leveraging Technology

to drive efficiency and productivity gains

Production

Advantaged

Forward

Distribution

Retail

Distribution

Port

Facilities

Americold Advantages

• ~90% owned network of high-quality, strategically located

  warehouses

• Deep relationships with top customers spanning decades

• Technological expertise and best-in-class operating system

Growth Strategy

• Continued growth in retail

• Leverage expertise into foodservice, e-commerce, convenience, drug and dollar stores

• Expand non-core products, such as pet food, pharmacy, floral

• Growth with CPKC to enhance cold storage supply chain through rail

• Potential presence in Mexico through strategic partnerships

Ability to Leverage Strong Market Presence in North America

Europe

Americold Advantages

• Presence at all nodes in the cold storage supply chain in

  Europe

• Americold Operating System implemented throughout

• Project Orion implementation underway to centralize/streamline multiple processes

Growth Strategy

• Significant white space to grow presence in retail and QSR

  sectors

• Expansion into foodservice, mass merchandising, convenience, e-commerce, drug stores, club stores, and dollar stores

• Expand geographic presence including fast-growing Middle East region with lots of white space, partnerships give us strategic advantage

Production Advantaged

Forward Distribution

Retail Distribution

Port Facilities

Scalable Platform in Europe and Middle East

Americold Advantages

• Region is highly economically occupied

• Specializes in fast turning and operationally intensive retail/QSR business

• Decades long relationships

• Americold Operating System and Project Orion implemented throughout

• Recent wins with On The Run expands capabilities into convenience sector

Growth Strategy

Production Advantaged

Forward Distribution

Retail Distribution

Port Facilities

• Existing customers are growing and requesting additional development support

• Expansion into adjacent channels, such as convenience, mass merchandise, e-commerce, drug stores, club stores, and dollar stores

• Leverage partnership opportunities in Southeast Asia

  Significant Growth Opportunities in Asia Pacific

  
  
  

  Production Advantaged

  • Single tenanted

  • Long-term fixed commitment agreements

  • Requires deep customer relationships

  • Located in largely rural areas close to harvests

  
  
  Americold's Critical Infrastructure at Every Node
  
  

  % of total warehouse revenue for the last twelve months ended March 31, 2026

  Ports

  • Multiple tenants

  • Few fixed commitment agreements

  • High-turning

  • Leverage strategic partnerships

  Retail Distribution Center

  • Single tenanted

  • Long-term fixed commitment agreements

  • High-turning and operationally intense

  • Largely insourced today

  Forward Distribution

  • Multi-tenanted mixing facilities

  • Located near large population centers

  • Fewer fixed commitment agreements

  • Multiple customers served

  
  
  Core Operating Expertise Enhanced by Best-in-Class Partnerships

  2022

  Top Five Global Port Operator

  2023

  One of NA's Largest Railroad Companies

  
  
  

  DP World Canadian Pacific Kansas City

  Operational Partners

  Highlights

  Kansas City, Missouri

  • First-of-its-kind rail-attached facility supporting the closed loop cold chain service between Mexico and US utilizing intermodal, bypassing customs, reducing transit time by approximately one day and reducing total cost. Completed in partnership with CPKC, opened Q2 2025.

    Port St. John, New Brunswick, Canada

    • Import/Export Hub will store and handle temperature sensitive food moving through the port, providing a more efficient route for Canadian food imports & exports, expected to open Q2 2026

    Port of Jebel Ali, Dubai

    
    
    

  • Import/Export Hub is the first to offer both bonded & non-bonded service and enables global food Producers to connect directly with regional Retailers and Distributors. Opened Q2 2025.

Technology Differentiation: Improving Efficiency and Lowering Cost

• Warehouse management system (WMS) provides visibility to ensure orders delivered on-time and in-full (OTIF)

• Labor management system (LMS) optimizes workforce and delivers high service levels to customers

• Transportation Management System (TMS) ensuring comprehensive national delivery network visibility

• Warehouse Execution System (WES) facilitating industry-leading automation services

  Project Orion ERP

  Standardize processes, reduce manual work and improve analytics

  
  
  

  415+ Identified

  Gen AI Use Cases

  Leveraging

  embedded AI with tech partners

  
  
  3. Growth Drivers & Well-Positioned Strategy
  
  Americold Operating System and Warehouse Management Expertise

  Customer Focus

  AOS distinguishes us from our competitors and is supported by our continuous improvement culture

  Advanced Integrated Systems

  • Delivering standardized procedures

  • Driving collaborative innovation

  • Improving service

    Labor Optimization

    Safety

    Inventory Management

Food Safety

Focused Improvement

Talent Stewardship

Sustainability Excellence

Asset Protection

Maintenance Excellence

Refrigeration Excellence

Americold Operating System ensures best practices across entire network